Visa support letter

/ February 7, 2020

Vietnam banks pledge to support business sectors hit by nCoV

The Hanoitimes - The central bank is willing to support liquidity for credit institutions, if needed, as they start providing financial support for the economy. Representatives of banks in Vietnam said they are committed to supporting enterprises and customers hurt by the new coronavirus (nCoV) outbreak, by lowering interest rates and restructuring debt maturities, among other measures, the governmental portal reported. Overview of the meeting. Source: VGP. The move was in response to a proposal by the State Bank of Vietnam (SBV), the country’s central bank, in a meeting on February 6 discussing measures to support the economy hit by the epidemic. Vice Governor of the SBV Dao Minh Tu said the bank is willing to support liquidity for commercial banks if needed, while lenders should be proactive in offering respective supporting programs to enterprises and individuals, particularly those operating in the fields of tourism, agriculture and trade. Pham Toan Vuong, vice general director of Agribank, said Agribank is evaluating the extent of damage on its customers, both direct and indirect. The lender has hundreds of millions of US dollars available to provide loans with preferential interest rates for enterprises. Vietcombank’s CEO Pham Quang Dung said it is estimated that over 50% of Vietnamese goods and products are affected by the outbreak, including 15% with major impacts if the epidemic persists in long period. However, as current regulations only provide guidance for debt restructuring in the agricultural sector, banks need more specific instructions from the SBV to deal with enterprises in other sectors. Regarding this issue, SBV’s Vice Governor Tu said the SBV would address this issue within two weeks. Right time to promote cashless payment SBV Vice Governor Tu urged the people should refrain from using cash to prevent the spread of the outbreak and shift to online banking services. Vice General Director of SHB Ninh …

/ August 27, 2020

IFC promotes employer-supported childcare in Vietnam to boost workforce efficiency

The Hanoitimes - With a projected contraction of the nation’s labor force by 5% by 2040 due to an aging population, the challenge for manufacturers will be to attract and retain quality workers. Providing childcare for employees has a positive impact on Vietnamese businesses, improving recruitment, retention, and worker productivity, according to a report released today by IFC, a member of the World Bank Group. The export-oriented manufacturing sector has been a key driver of economic growth and job creation in Vietnam, particularly for women who make up over 80% of the sector’s labor force. The business benefits of employer-supported care in Vietnam. Source: IFC. While the global Covid-19 pandemic has impacted demand, the manufacturing industry is well-positioned for the recovery and further growth. With a projected contraction of the nation’s labor force by 5% by 2040 due to an aging population, the challenge for manufacturers will be to attract and retain quality workers. Offering childcare support to working parents can be part of the solution to attracting and retaining workers in Vietnam’s tightening labor market, according to a new IFC report Tackling Childcare: The Business Case for Employer-Supported Childcare in Vietnam. Many employees interviewed in this study consider employer-supported childcare — especially on-site facilities — among the decisive factors in choosing a job. “IFC research reveals a gap between the need for and the supply of childcare in Vietnam. Employers can play a role in addressing this gap, not just by directly providing care, but by creating family-friendly workplaces that help employees combine productive work with parenting,” said Kyle Kelhofer, IFC Country Manager for Vietnam, Cambodia, and Lao PDR. “When schools and daycares closed during the Covid-19 pandemic, it became clear how closely linked productivity is to childcare. We cannot forget that as we head into recovery from the Covid-19 …

/ March 5, 2021

VIETNAM NEWS HEADLINES MARCH 5 (updated hourly)

Many elderly people join 2nd stage of Nano Covax vaccine trials A total of 367 volunteers, including 30 aged over 60, have been injected with Nano Covax, Vietnam’s first homegrown COVID-19 vaccine candidate, in the second phase of its human trials, according to the Military Medical University. The second stage has been conducted by the university and the Ho Chi Minh City-based Pasteur Institute since February 26. It has been carried out at the university in Hanoi and the medical centre of Ben Luc district in the southern province of Long An, with the participation of 560 volunteers aged from 12-75, including 80 aged over 60. They will receive two doses of either the vaccine or the placebo AIPO4, with an interval of 28 days. Each volunteer will be monitored for 12 months after the first dose. Volunteers receiving shots on the morning of February 26 will receive the second doses in late March. Lieutenant-General Do Quyet, Director of the Military Medical University, said since the trial sees the participation of volunteers with underlying health conditions, competent authorities have been prepared for all scenarios and ensure safety for all volunteers. Results of the trial will be announced in May 2021 before preparing for the third-stage trial during which only one single shot of the vaccine will be administered to 10,000-15,000 people from both domestic and foreign pandemic-hit regions, Quyet added. Developed by the Nanogen Pharmaceutical Biotechnology JSC and the Hanoi-based Military Medical University, Nano Covax is Vietnam’s first COVID-19 vaccine to reach the human trial stage. The first-stage trial of the Nano Covax vaccine showed that it is likely to be effective against the B117 variant from the UK. Vietnam is one of 40 countries and territories in the world to have begun human trials of a COVID-19 vaccine, after successfully producing coronavirus test kits early in the pandemic./. National university processes complaint of lecturers in …